Merchant Cash Advance

So basically, the more money the business takes through card payments, the quicker the cash advance will be repaid.  The lender will consider your average monthly turnover to work out how much you’ll be able to repay comfortably.

What are the benefits of a merchant cash advance?

• Flexible – Your business only pays back the advance when it takes customer card payments, meaning that if you have a quiet sales period, there is no pressure to meet a monthly repayment.
• Quick– although it varies by lender and application process, approval for a merchant cash advance can be as quick as just 24 hours.
• No security required – Merchant cash advances are a type of unsecured business finance, and therefore don’t require assets to secure against.
• Less Risk– There can be less risk of ‘defaulting’ on the loan, as the repayments are taken directly from the your customer card payments.
• Clarity – The total amount that you are liable to repay does not change.